Well, that's embarrassing! The Bank of England published this infographic about their £445 billion Quantitative Easing programme on their website. But they forgot to mention a few important things, so we've made some corrections for them...
The British inflation rate for September increased faster than expected to 1% – a two-year high – primarily due to rising prices for clothes, hotel rooms and petrol. While a weaker pound may not explain the latest rise in consumer prices, is the cost of living expected to increase in the future? And what does this mean for the Bank of England?
Global debt has more than doubled in the last 15 years; and according to the International Monetary Fund (IMF), it’s the highest it’s ever been.
In response to Mark Carney’s remarks at a news conference in Nottingham, in which he said that the Bank would be prepared to tolerate a rise in inflation above 2%, Executive Director of Positive Money, Fran Boait said:
"Theresa May knows monetary policy isn’t working. QE is increasing inequality, and low interest rates aren’t the solution", writes Fran Boait in the Guardian, 12th October 2016.